RIL AGM: Reliance to launch FMCG business this year

  • Isha Ambani announced that the company will launch a fast-moving consumer business (FMCG) business this year

Livemint
Updated29 Aug 2022, 04:09 PM IST
Reliance to launch FMCG business this year
Reliance to launch FMCG business this year

During her speech at the 45th Annual General Meeting (AGM) of Reliance Industries Ltd (RIL), its retail arm's director Isha Ambani announced that the company will launch a fast-moving consumer business (FMCG) business.

"I am excited to announce that this year, we will launch our fast-moving consumer goods business. The objective of this business is to develop and deliver products that solve every Indian's daily needs with high quality products at affordable pricing," Isha Ambani said.

"As part of our commitment to India's rich culture and heritage, we will soon start marketing quality goods produced by tribals and other marginalised communities across India," she added.

Reliance Retail opened over 2,500 stores in the year to take its store count to over 15,000, spanning an operational area of 42 million sq-ft. “We built an extensive supply chain network with modular design and best-in-class automation. We generated employment for more than 1,50,000 during the year, taking our employee base to over 3,60,000,” she added.

Reliance Retail achieved a record of 2 lakh crore turnover and an EBITDA of 12,000 crore and is today among the Top-10 Retailers in Asia.

“During the year, we strengthened our own brands’ presence by launching several new products across categories of Staples, Home, Personal Care and General Merchandise. Further, we launched our WhatsApp-JioMart partnership,” said Isha.

India's top valued company Reliance Industries is conducting its 45th AGM on Monday via video conferencing for the third consecutive year. Mukesh Ambani chairs and runs Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail.

 

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First Published:29 Aug 2022, 04:09 PM IST
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